QIBs oversubscribed SKS Microfinance IPO 3.6 times

Microfinance Focus, July 30, 2010: As per the latest data available on the BSE cumulative demand schedule, qualified institutional buyers (QIBs) have oversubscribed SKS microfinance IPO 3.6 times. For the total issue size of 1.37 crores of equity shares buyers bided for 2.5 crores of shares, subscribing it 1.8 times.

Today was the last day for QIBs to subscribe for the issue. The issue will remain open till August 02 for non-institutional and retail investors. The price band for the same is between Rs 850 and Rs 985 per equity share.

SKS Microfinace has already received commitment for Rs 300 crore (USD 64 million) from anchor investors as against allocation of 30 lakh shares at Rs 985 per share. The book running lead managers to the Issue are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited.

BSE Demand Schedule for SKS Microfinance

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